Tanglin Retail inducted as co-promoter of Sical

Tanglin Retail Realty Developments Pvt Ltd has been inducted as a co-promoter of Sical Logistics Ltd. This comes after Tanglin, a group company of Coffee Day Resorts Pvt Ltd, has acquired stake in Sical in December last year. R Ram Mohan was appointed new managing director of the company.

Sical said in an announcement to the Bombay Stock Exchange on Monday that Tanglin Retail has been inducted as co-promoters pending completion of formalities under the open offer. R Ram Mohan, Kush Desai, S R Ramakrishnan and A S Sundaresha were appointed directors of the company.

The board has also accepted the resignations of directors including Ashwin C Muthiah, Dhananjay N Mungale, Sanjiv Ralph Noronha, Mano Vikrant Singh and L R Sridhar, who also resigned as the managing director of the comapny.